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Technology Stocks : Infosys Technologies Ltd. (Nasdaq:INFY)
INFY 17.82-1.2%Jan 9 9:30 AM EST
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To: Mohan Marette who wrote (22)3/8/2000 1:06:00 AM
From: Mohan Marette  Read Replies (1) of 29
 
Infosys bags Avici Systems order

Close on the heels of the order from retail chain Sainburys, Infosys Technologies has bagged a contract from Avici Systems to enhance and support the development of its IPriori communication software.

A world leader in providing IT consulting and software services to Fortune 1000 companies, Infosys offers software services such as application development, re?engineering, software maintenance, Internet consulting and package implementation.

Avici is the developer of the telecom industry's first terabit/switch router powering optical networks. Infosys is to work on integrating testing of the Avici's terabit switch/router switch features.

However, the amount of revenues that this contract is to yield Infosys or for that matter the period of the contract is not known. Also one does not know the size of Avici Systems and the contribution of telecom software to its revenues. Hence one is unable to comment on the impact it would have on Infosys topline and bottomline growth.

Market View:

Despite the stock trading at a historical peak, given the potential from acquisitions, overseas development and e-commerce thrust the upside remains. Perhaps the only grey area could be a de-rating of the sector as a whole, which doesn't seem likely at the moment. It is for this reason that the analysts have flagged the stock as a "buy".

March 7, 2000

-equity master
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